QUESTION
What do I need to do to give property over to someone else?
Asked on Jul 19th, 2011 on Estate Planning - Georgia
More details to this question:
I want to give up rights to 1/2 property recently inherited. I want the other beneficiary to get it all. I am having trouble finding an attorney to help with this.
5 ANSWERS
Shadi Ala'i AlaiShaffer
Why are you having trouble finding an attorney? That is odd. You need a legal document that clearly states what you are inheriting and that you are freely giving up your right to this asset/inheritance, etc.... I suggest you get this document notarized. I highly suggest you seek legal assistance with this as you want to make sure you do it properly and that the transfer is legally valid.
Answered on Jul 22nd, 2011 at 10:02 AM
Trusts and Estates Attorney serving Jacksonville, FL
Partner at
Law Office of David M. Goldman PLLC
3 Awards
There are several ways of doing this. Some can have adverse tax consequences.
Answered on Jul 21st, 2011 at 1:06 PM
Depending on how recently you inherited the property, or if you haven't accepted the gift you can disclaim your interest. Without more facts it is impossible to give you a clear answer. Good luck in your search for an attorney.
Answered on Jul 21st, 2011 at 12:19 PM
Bruce Givner
If it is real property, you need to fill out a grant deed transferring the property to the other person. Also, if it is California real property, you will need to fill out a PCOR (preliminary change of ownership report) which will determine whether the property taxes will change. If it is another type of property, the manner of transfer will depend upon the nature of the property. Depending upon the value of the property, you may need to file a gift tax return. That is the only generalization I can provide to your general question.
Answered on Jul 21st, 2011 at 12:05 PM
Glen Edward Ashman
Hopefully you disclaimed it before you received it. That would usually be best. Many attorneys can handle this. I have done it frequently, and it should be easy to find a lawyer who can help.
Answered on Jul 21st, 2011 at 10:12 AM